Delta Financial Advisors LLC Has $2.57 Million Position in Carrier Global Corporation $CARR

Delta Financial Advisors LLC raised its position in Carrier Global Corporation (NYSE:CARR) by 3.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 35,169 shares of the company’s stock after purchasing an additional 1,044 shares during the period. Delta Financial Advisors LLC’s holdings in Carrier Global were worth $2,574,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Ransom Advisory Ltd acquired a new stake in shares of Carrier Global during the first quarter worth about $400,000. Shell Asset Management Co. grew its position in shares of Carrier Global by 98.4% in the 2nd quarter. Shell Asset Management Co. now owns 24,160 shares of the company’s stock valued at $1,768,000 after purchasing an additional 11,980 shares during the period. Nordea Investment Management AB increased its stake in Carrier Global by 1.5% during the 2nd quarter. Nordea Investment Management AB now owns 73,150 shares of the company’s stock worth $5,369,000 after purchasing an additional 1,074 shares in the last quarter. Aberdeen Group plc raised its holdings in Carrier Global by 1.8% during the 1st quarter. Aberdeen Group plc now owns 717,658 shares of the company’s stock worth $44,854,000 after buying an additional 12,346 shares during the period. Finally, US Bancorp DE raised its holdings in Carrier Global by 3.9% during the 2nd quarter. US Bancorp DE now owns 529,191 shares of the company’s stock worth $38,732,000 after buying an additional 19,976 shares during the period. 91.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Carrier Global in a research report on Wednesday, October 8th. Wolfe Research reduced their target price on shares of Carrier Global from $76.00 to $75.00 and set an “outperform” rating for the company in a research note on Wednesday, October 29th. Deutsche Bank Aktiengesellschaft cut their price target on Carrier Global from $70.00 to $64.00 and set a “hold” rating on the stock in a report on Wednesday, October 29th. The Goldman Sachs Group decreased their price objective on Carrier Global from $76.00 to $72.00 and set a “buy” rating for the company in a report on Wednesday, October 29th. Finally, Morgan Stanley cut their target price on Carrier Global from $75.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 14th. Eleven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.18.

Carrier Global Stock Performance

CARR opened at $57.42 on Friday. The business’s 50-day simple moving average is $59.66 and its 200 day simple moving average is $66.86. Carrier Global Corporation has a 52-week low of $54.22 and a 52-week high of $81.09. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.75 and a current ratio of 1.14. The firm has a market capitalization of $48.36 billion, a PE ratio of 12.85, a PEG ratio of 2.37 and a beta of 1.30.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. Carrier Global had a return on equity of 16.65% and a net margin of 18.05%.The firm had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $5.65 billion. During the same period last year, the company earned $0.83 earnings per share. The business’s revenue was down 6.8% compared to the same quarter last year. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. As a group, sell-side analysts expect that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.

Carrier Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 18th. Investors of record on Wednesday, October 29th will be issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Wednesday, October 29th. Carrier Global’s payout ratio is presently 20.13%.

Carrier Global announced that its Board of Directors has approved a share repurchase plan on Tuesday, October 28th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to buy up to 10.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Carrier Global Company Profile

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies in the United States, Europe, the Asia Pacific, and internationally. It operates through three segments: HVAC, Refrigeration, and Fire & Security.